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In this video, we'll walk you through the process of paying stamp duty using the iTax portal. If you're not familiar with stamp duty, it's a tax levied on legal instruments such as cheques, receipts, military commissions, marriage licenses, land transactions and shares.

It's important to pay your stamp duty because failure to do so can result in the invalidity of the relevant transaction, and any agreement signed between the parties can become null and void. Additionally, the same is inadmissible in a court of law as evidence.

If you fail to pay the duty or assessed amounts, you may be subject to a fine assessed at five percent (5%) of the principal assessed stamp duty for every quarter from the date of the instrument.

By following the steps in this video, you'll learn how to pay your stamp duty using the iTax portal, ensuring that your legal transactions are valid and in compliance with the law. So, if you're ready to get started, let's dive in!.

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